Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: March 19, 2025

Purpose: To provide an integrated finance and performance update against Our City: Our Plan priorities for 2024-2025.

Content: 1.      That it be noted, the General Fund projected outturn for 2024-2025 is currently forecast to be within budget.   2.      That it be noted, the Housing Revenue Account (HRA) projected outturn for 2024-2025 is currently projecting a balanced outturn position for 2024-2025.   3.      That it be noted, the Director of Finance had approved write-off of debts against the expected credit loss provision as detailed in Appendix 3 to the report.   4.      That it be noted, the Strategic Risk Register was last approved by Cabinet on 13 November 2024 and the latest iteration as detailed in Appendix 4 to the report was presented to Audit and Risk Committee on 10 March 2025.   5.      That the additional use of up to £50,000 from the Budget Contingency Reserve to fund Midpoint school deficit balance to support its conversion to academy as detailed in paragraph 10.6 of the report be approved.   6.      That transfer of an additional £1.0 million into Treasury Management Equalisation Reserve as detailed in paragraph 10.7 of the report and detailed in paragraph 3.6 in Our Future Council - Treasury Management Activity Monitoring Quarter Three 2024-2025 report be approved.   7.      That the transfer of £600,000 into the Sustainable Medium Term Financial Strategy (MTFS) Reserve as detailed in paragraph 10.9 of the report be approved.   8.      That 17 virements totalling £11.5 million on the General Fund for 2024-2025 and two virement totalling £230,000 on the General Fund for 2025-2026, for transfers within directorates, as detailed in Appendix 6 to the report be approved.   9.      That the delegation to the Section 151 Officer (or deputy) to approve essential virements in relation to recharges, Our Future Council Programme activity and year end processes, as detailed in section 13 of the report be approved.   10.   That the write-off of debts against the expected credit loss provision as detailed in Appendix 3 to the report be approved.   11.   That the Strategic Risk Register as detailed in Appendix 4 to the report be approved.   12.   That the General Fund Budget Risks 2024-2025 register as detailed in Appendix 5 to the report be approved.   13.   That the establishment of supplementary budgets within 2024-2025 and 2025-2026 as detailed in Section 8 of the report be approved.   14.   That the Council enters into an agreement to make a grant payment of £41,000 to Volunteer Matters for the provision of a mentoring service, as detailed in Section 9 of the report.   15.   That the Council enters into an agreement to make a grant payment of £51,000 to certain special schools and £39,000 to Voice for Parents to deliver a Short Breaks pilot, as detailed in Section 9 of the report.   16.   That the Adult Social Care fee uplift from 31 March 2025 and update fee rates as shown in Section 5 of the report be approved to implement.